The team operates as Lynch Retirement Investment Group, an independent firm, in Fulton, Maryland. At Wells Fargo, Lynch managed more than $477 million in assets and had $4 million in annual production.
“Several factors were important in making the decision to join Raymond James,” said Lynch. “Among them was the firm’s strength, stability and its culture. After spending time with Raymond James CEO Paul Reilly and meeting many home office associates, I felt I had come home. I really enjoyed the family feel, the regional culture with the resources of a Wall Street firm. In addition, the relationship pricing of many product features, together with the ability to continue to run an independent practice while serving my clients’ best interests, was very compelling.”
Scott Curtis, president of RJFS, welcomed this “exceptional” team. “John has a proven track record of success,” said Curtis. “He and his associates are a great fit for our firm. Their valuable knowledge and experience make them a strong addition to RJFS and demonstrate, once again, that our advisor-centric culture and broad platform continue to appeal to some of the very best advisors in the industry. Most importantly, they share our dedication to putting the needs of clients first.”
Financial advisors Arthur DeLuca, Lindsay Johns and Molly Croyle all joined Lynch in the move from Wells Fargo to RJFS, along with registered associates Allie Gamble-Taylor and Andrew Fentress. Lynch, who had worked with E.F. Hutton, joined Wheat First Butcher Singer, which was acquired by First Union; that company later became Wachovia Securities and then Wells Fargo Advisors. Lynch and his team specialize in working with clients who have received lump sum retirement distributions from major corporations.
“We loved Wheat First Butcher Singer,” Lynch told On Wall Street, “the regional firm culture where everybody knows your name. That’s why this feels like coming home. Raymond James is in the sweet spot: big enough to provide the technology we need yet small enough to offer personal attention. If a problem arises, it’s nice to be able to talk to senior management.”
Lynch also praised RJFS for its flexibility, in a phone interview with On Wall Street. “For instance,” he said, “at some firms you’re tied to one financial planning software program. At Raymond James, we can choose from a whole array of software packages. That’s important in our retirement-oriented practice because clients want to see models and feel assured that they won’t run out of money.”
Donald Jay Korn writes for On Wall Street.